First American Funds Fund Market Value
| FXFXX Fund | USD 1.00 0.00 0.00% |
| Symbol | First |
Please note, there is a significant difference between First American's value and its price as these two are different measures arrived at by different means. Investors typically determine if First American is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, First American's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
First American 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to First American's money market fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of First American.
| 03/17/2024 |
| 04/16/2024 |
If you would invest 0.00 in First American on March 17, 2024 and sell it all today you would earn a total of 0.00 from holding First American Funds or generate 0.0% return on investment in First American over 30 days. First American is related to or competes with Invesco Advantage, Invesco Quality, Invesco California, DWS Municipal, Invesco Trust, John Hancock, and MFS High. First American is entity of United States More
First American Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure First American's money market fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess First American Funds upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.38) | |||
| Maximum Drawdown | 1.01 |
First American Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for First American's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as First American's standard deviation. In reality, there are many statistical measures that can use First American historical prices to predict the future First American's volatility.| Risk Adjusted Performance | 0.0368 | |||
| Jensen Alpha | 0.004 | |||
| Total Risk Alpha | (0.01) | |||
| Treynor Ratio | 0.2156 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of First American's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
First American Funds Backtested Returns
We consider First American not too volatile. First American Funds secures Sharpe Ratio (or Efficiency) of 0.13, which denotes the fund had a 0.13% return per unit of risk over the last 3 months. We have found sixteen technical indicators for First American Funds, which you can use to evaluate the volatility of the entity. Please confirm First American's Standard Deviation of 0.1243, mean deviation of 0.0301, and Variance of 0.0155 to check if the risk estimate we provide is consistent with the expected return of 0.0163%. The fund shows a Beta (market volatility) of 0.0246, which means not very significant fluctuations relative to the market. As returns on the market increase, First American's returns are expected to increase less than the market. However, during the bear market, the loss of holding First American is expected to be smaller as well.
Auto-correlation | 0.00 |
No correlation between past and present
First American Funds has no correlation between past and present. Overlapping area represents the amount of predictability between First American time series from 17th of March 2024 to 1st of April 2024 and 1st of April 2024 to 16th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of First American Funds price movement. The serial correlation of 0.0 indicates that just 0.0% of current First American price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
First American Funds lagged returns against current returns
Autocorrelation, which is First American money market fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting First American's money market fund expected returns. We can calculate the autocorrelation of First American returns to help us make a trade decision. For example, suppose you find that First American has exhibited high autocorrelation historically, and you observe that the money market fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
First American regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If First American money market fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if First American money market fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in First American money market fund over time.
Current vs Lagged Prices |
| Timeline |
First American Lagged Returns
When evaluating First American's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of First American money market fund have on its future price. First American autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, First American autocorrelation shows the relationship between First American money market fund current value and its past values and can show if there is a momentum factor associated with investing in First American Funds.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards First American in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, First American's short interest history, or implied volatility extrapolated from First American options trading.
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First American technical money market fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.